Blockchain Technology in Healthcare Market Overview Size By 2023, Industry Analysis With Top Companies IBM, Microsoft , Guardtime,Pokitdok , Gem

Blockchain Technology in Healthcare Market Overview:

Blockchain technology in healthcare can prove its worth by making itself a pivot in healthcare services. Furthermore, IT is playing a crucial role in spurring incorporation of blockchain technology in the healthcare sector. The global blockchain technology in healthcare market has a lot of potentials that can assist in some spellbinding growth during the forecast period (2018-2023), reveals Market Research Future (MRFR). Their report on the blockchain technology in healthcare market includes segmental analysis and various factors that can trigger the growth in coming years. Blockchain technologies’ ability to mitigate data breaches and provide security against fraudulent activities can act like the market drivers.

Blockchain Technology in Healthcare Industry Trend:

The blockchain technology in healthcare market is witnessing some positive signs as the U.S. healthcare industry has started incorporating the technology in its system. For instance, record filing for better care of the patient is necessary. Earlier, this used to take up space without providing the correct information at the right time. Five of the major healthcare companies have already started adopting this technology to facilitate and simplify data sharing.

Researchers from the Chinese Academy of Sciences in Beijing have come up with a solution to secure mobile health data transmissions. They have introduced a Merkle tree-based method for organizing health records in the blockchain which can enable simpler data management.

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Blockchain Technology in Healthcare Market Segmentation:

The global blockchain technology in healthcare market can be segmented by application and end-user.

By application, the blockchain technology in healthcare market can be segmented into supply chain management, clinical data exchange & interoperability, claims adjudication, and billing.

Based on end-users, the blockchain technology in healthcare market includes pharmaceutical companies, service providers, healthcare consumers.

Blockchain Technology in Healthcare Market Regional Analysis:

Geographically, the blockchain technology in healthcare market includes North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).

North America’s infrastructural superiority in both IT and healthcare has already set up the premise for further market expansion. The market is also keen to integrate the new medium to have a safer functioning of the healthcare system. At the same point of time, the regional blockchain technology in healthcare market has the maximum number of market titans vying for the most opportunities which can help the market grow. Presence of robust economies in the region can also be considered while judging the market scenario in the coming years.

Europe has an advantage over the rest as the region started building the nest long before any other region. In 2016, the region began funding for a multinational collaboration where the other wheels of the cart were privacy companies and research institutes. The effort was to aggregate and share biomedical information. The technological brilliance of the region is also commendable which can cement its mainstay further. The APAC region can benefit substantially with a lot of companies in the healthcare sector trying to resolve issues related to patients in a much quicker pattern.

Blockchain Technology in Healthcare Market Insight:

The promising global blockchain technology in healthcare market has a lot to offer in terms of new entrants and existing market behemoths. However, both require proper strategic implementations can take the market forward by miles. The market is looking poised perfectly as almost 74% out of the 1000 executives from all over the world Deloitte interviewed, wish to invest in blockchain technology in healthcare market. At the same point of time, merger, acquisition, collaboration and strategic steps can increase the growth rate. For instance, VitalHub, a blockchain based healthcare service provider, has acquired B Sharp Technologies and planning to buy HI Next in a bid to spread blockchain solutions.

Some of the key players operating in the global blockchain technology in healthcare market include Microsoft, IBM, Gem, iSolve, Chronicled, FarmaTrust, Patientory, Medicalchain, Blockpharma, Factom, Guardtime, PokitDok, and others.

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About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.

In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.

This release was published on openPR.